Petro­fac JV set to win $2bn Duqm Re­fin­ery contract

Muscat Daily - - FRONT PAGE -

The project oc­cu­pies more than 2,000 acres and, when com­pleted, will have a re­fin­ing ca­pac­ity of ap­prox­i­mately 230,000 bar­rels of oil per day

Petro­fac on Fri­day an­nounced that it, in a joint ven­ture (JV) with Sam­sung En­gi­neer­ing, is set to be awarded a US$2bn en­gi­neer­ing, pro­cure­ment and con­struc­tion (EPC) contract for Duqm Re­fin­ery project in Oman.

‘Petro­fac, in a 50/50 joint ven­ture with Sam­sung En­gi­neer­ing, has re­ceived no­ti­fi­ca­tion of in­tent to award a contract worth ap­prox­i­mately US$2bn with Duqm Re­fin­ery and Petro­chem­i­cal In­dus­tries LLC (DRPIC) in the south­ern part of Oman’, the UK-based Petro­fac said in a state­ment on its web­site.

It said the work on the 47 month project will com­mence shortly, sub­ject to fi­nan­cial clo­sure and full no­tice to pro­ceed from DRPIC. Petro­fac’s and Sam­sung’s scope of work in­cludes en­gi­neer­ing, pro­cure­ment, con­struc­tion, com­mis­sion­ing, train­ing and start-up op­er­a­tions for all the util­i­ties and off­sites at Duqm.

Duqm Re­fin­ery is a joint ven­ture be­tween Oman Oil Com­pany and Kuwait Pe­tro­leum In­ter­na­tional (KPI).

A strate­gic in­vest­ment for the sul­tanate, and form­ing the cor­ner­stone of the Duqm Special Eco­nomic Zone, the Duqm Re­fin­ery project oc­cu­pies more than 2,000 acres and, when com­pleted, will have a re­fin­ing ca­pac- ity of ap­prox­i­mately 230,000 bar­rels of oil per day.

E Sathya­narayanan, group man­ag­ing di­rec­tor, en­gi­neer­ing & con­struc­tion, at Petro­fac, said: “This sig­nif­i­cant project rep­re­sents our twelfth in the coun­try and serves to re­in­force Petro­fac’s com­mit­ment to one of our core mar­kets; one in which we have been present since 1988. Fur­ther­more, it pro­vides a valu­able op­por­tu­nity for us to con­tinue to in­crease in-coun­try value through en­gag­ing with the lo­cal sup­ply chain and re­cruit­ment of lo­cal re­sources.”

“We are very much look­ing for­ward to work­ing with Sam­sung on this project and grow­ing our re­la­tion­ship with DRPIC,” he added.

Pic­ture for il­lus­tra­tive pur­pose only

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